where are we in this cycle, do yothink? >> think it's pbabay just the beginnining. and d wh w we really y eded to s on as vevests is thehohole woworl and i thihink it's the world beyond nororth america where th lo-term prospects o othe bebest >>>> y are looking outside the united states foretette vestment opportunitieies? >> yes, si >>>>why? >> we think there's ssssdebt. there's s mo g groh potential. and there's a l lotf people w w want to woworkarar to have everythihi t thawe all have. >> you have a rather coconctrtred rtrtfoo. t to0 stocksks in that poportlio. has thatheheed you or h hur you in this cycle? >>>> wl, i think lasteaea it alalmo didn't mattetewhwhat you owned. fact, inn many cases, qlility securities went down evenorore cause people could s selthem.m. i think comingngutut of th,, its helped us a bibit. >> individidua investors who wee dollar c cttavavaging through ththisave had stomach an awful lot of v vatatily in the last s six months.s. did they say the course? is thatwhwhat you're dodoin >> yes. we ha dollar cosostvevera investors who have m mad

. >> rororter: do yothink k you have the i indendencnce to dthat if y you n neeto make that cl? >>es. repr: on ththe issue of ra a and polingndnd the arrest of hryou gates, hed too,o, h has been racacially profiled. >> i was a young clegedent iviving fr new yk to washington, opped on a ghway.y. and toldld to openen thehe trunk of my car. the e police officer td mee wanted to search it for weapons. i reremembered as i i goback i in thcacar, howow h humiltetedt,t, how w angrgot. have we e reached e pnt wherere w enforcememis c color blind? >> not y yet, but 'r cer in much h tter plalace than we were. work r remai, , bubut therers also wo t that eds toto b be e done inn cocommununits ofolor w i think pele t tooen want assu that t the poce or people inaw enforcement are doinghe wrwrong ing, see pole popolicici, laenenforcemt policicies as misgded or direct only y at people ofol whwhen i in fact that's not the case.. >> r rorter: pgrs s has be made, , buththe nationon coconverertionon on race remains at nexi >> andnd t therel be morore ofre i intntview with h the totogugue tonit o on

. >> t tm anchor -- the ar term was basical coined fortecrkite ta aut what yothink heid telesion news. >> well, it s ed for him. it woined in the covere of the firsnvenon televi that was 195 the blans nominated dwight eisenhower the decrats nonated adlai stevenson. th had tcome up withome wo for it so they cled him anorndhat stuck ever nce. weere extraordinaril fortate that he warst. heasadigm, he was the examthat has cdo roh thyears all of cause he had such so traini he was traed in e wi rvice waof rorng, the basic, know, who, at, why, wher when. heamalong whenhere was not flash and da there is in levion now. itasally was walitting behi a dk, and he justid ight his compwas solute on t,nd he deto that itwas abthne it wasn'abt him, ahoh ople came to trust h it wbout the ns and that is something ihink tall of keep in theac our mindsall the ti well, he was owaso objeut there w that ment thawe just showed a mo ago in 19 when he came d basically saide wa againsthe vinar. was that a turning point aal >>l, it was sothing of a g dealn he aed mmenta to the show. it's ieres, you know, ll in tha

vivisly if you w wor a humana, yothink i'm wrong. veve bn putting in these caveats.ow onasast night, thisis iththe most nsistent grower in t t universe of stocks at i follow. it's got a multiple lee it's steel l company.y. mean, tss company is the frnd of reform, n not the enemy. th stock should bebett 65. >> whaha do wehihi about the margin story going forwardrd. you got to unrsrsnd that osose,f you have -- but if you ve lessedicare advantage, inin other words, leses of ththe gogovement writing checks, bebecae that was a a government buy-in of the corporation,n, wellpopoin hasthe least exposure to governmenenpay. that's'soooo qwest, wee just tt new rules. 's's unlikely they'll g ge them a rollllba,, plus diagnostics something obamamaelelies inin. this medco, t theavavedhe system money.. you can't say, wait send, jim, all these stocks a in alth care and obamaatat healthth re. i think what we're discoveririn he hates ste. >> w whe comes tththe telecom space,hey antitrtrus penenti that may be -- >> i i you're c chrtine barneyy anand u u nt to make splala,, you starart

yothink theyst d't know how use ityet diewtdt's a matt of -- doyou k it a maer of ey really don't need a loof pe don't undetand the diffce tweethem. at be buy ha impartial infoedadsors r jois to lp u nd out itis yont e phone todoanhow it can bene you. until yoget tothe nuts and s goover a loof peop heads li u said a t of op say wa my rst smarphone, get il, gps. iconwod you recoend and wh >> laely it depends on what rriethey want. for example, the ackberry tour, you have verizou case n the statabad you can tawiit you. 'sasy tous hareliab keys grcame. anit wi dovething you wt to do, especlly e-il. blerriesare owfor od mail. that would a good choice for em. rint, the lm pris nice choice. 's retively wer phon ly en ouaboua nth now.8mgf ndargps, everything you want it to . but it goodsize, very popular. >> why do you it be? fa t graphics are amazing. operating syem easy t use. it's pretty olproof. it's only abt out out -- beenutaboua nth. it wi be od i thincae yo can multaswith it lot oother vices you can' i n do more an e thing at a time and keepthem runnon thescreen d move fluly beeeem. i

that things like this whichou're cumenting and saying would be a violn of t nional security act, do yothinkhese are oversights or inadverte mistakes? >> absutely not. this we know, at there was a decision that was madeot to ll the congress. and so tt's one of the things that we havelook into very carefull why that decision was mama, , whmade the decision not to inform the congressss this was no o ststak they did not want us t tknknow about this.. >> do o yoknknowho made the decision? >>e're going to -- i can't talk aboutut t n nam that were involveded, t t think our investigation neededtoto dermine exexacy y o -- what coersations were had and whoho signededffff othose decisions. o oka the repoportn n the so-called president's surveieillcece pgram that came out t th a aernoon, obously we've only seen n e e unclassified versisionndnd wt's in that is p prey y ir raising. e you concerned about t atat t ininsptotorseneral found in that port about warrantlessss wiwirepping and these strange and very limimit e effts to make the progograsese legal? >> welell,hahat m interested in is that it extends

you look a pricesyou make -- yothink, can i mak money on at -- can i make money a builr if prices are 8 lor. maybe i can. if s hedge it and do it. >> chaie: right. u are saying use derivatet a time whenerivatives are the suect of severe criticism >> ihink it's a mistaketo iticize derivatives, per se. because derivatives you kw, people tk about credit default sws as derivative. it's a kind of insurance. if i giveit a dferent name, is anyone agnst insurance? what about health insurance? anyone against that? >> charlie: but insuran -- >> health inrance nor a company, tt's what credit default. >> charlie: insurances a management of risk, isn't it? >> absolely. in ct, you know over the centuries, people o wereery resistant to t idea of insurance, is only in modern times like the 20th century that it became likerandma and apple pi we all know thatnsurance is a good thing. derivatives ar still - it's taped word. but it's the same thing. it about getting a broar group ofpeople to spad out risks er more people. d to have them pay for the managent of the ris at a premium or price that compensas

do yothink this is a little dangerous fofor the ceto make ose comments a day beforore earnings? >> yeah, think all the positive news is nowow out. ke i said,d, the e earning are ing to be p ptty weak and inkthere' still judent to y whether the s. and europepe are ottoms, especiaially inhe end marts like construction. we a a know t that auto is improving g but se of thee en marks could potentially hahave down sides. . >> thank you. >>> we want to go to m me huckman who has brbreakingews on amgegen. >> i it's soarg in the after hours becacause just couple minutes ago, amgen, the e world' largrgest biothnology company, announced reresults a large, late-s-stage cnical trial for ththe drug is filed for fda approvoval for treatment ofof certaiai cance patients d so the compmpy announceded thathe drug m the two main goals in this large, late-stage studud involvg breast cancer patientnt for whom theheir cancer hahas sd to the bon so again, amgen says thehe drug works well on breast cancer patients whohoave se the cancer spread d to the bone. in other wordsds be that i it mt ththtwo ma g

[ laughter ] >> i did think i looked a little dough-boy-ish. [ laughter ] >> jimmy: now what did yothinkis again so -- >> jimmy: what do you think of steve's musical stuff? >> steve's music is great. and i knew when he was -- i didn't realize that you were going to make this full album but he did -- he did send me -- he gave me four songs. [ laughter ] >> that's great. >> no, listen, he gave me four songs to listen to on the way back, and i gave him -- then i sent him my book of lyrics and he e-mailed me and said, "got your bookf lyrics and i got to be honest, not that great." [ laughter ] >> jimmy: very good. >> no, you have it backwards because it started with your e-mail that said, "steve, i listened to your songs and i have to be honest, i didn't like them that much, sorry." >> jimmy: that's great to get from paul simon. more with steve martin and paul simon when we return. we'll be right back. [ cheers and applause ] ♪ the germ-killing eclipse gum big-e-pak. fresh breath in your car. okay. sixty germ-killing pieces. seriously. the eclipse gum big-e-pak now kills bad breath germs. ad

. >> reporter: that's an interesting term, abo rushing to utopi do yothink that is where america is now, where they y we have a black present, we're at utia? i think that's where part this country is. mo of this country, january 20thhey said wow, this is a transformative moment. people were cryin they felt hopef. blackwhite, brown, red, yellow. and then january1st came, dad still didn't have a jo mom still had to rk too many job the family dreawas being forecled on. too many fks in the neighbhood are dying of aids. too many are off to pson. >>reporter: i want to ask y a final qution about the naacp's strategy for the future is there a shift w in the approach thnaacp brings to affecting chae toward self- empowment and away from dissent. >> wreally haven't just been organizing big mares. we've been in thcourts. every legal battle th has made america betr, it was won by naacp. so it wasn't mching all of the me. it was sitting, thinking, bringing actio we've p together the best organizingor voter gistration in this country. naacp has done that. > reporter: professor glaud >> there'a wonderf

>>scott, whato o yothink?w -- you sent a a great ototo great photo of your son th piles o of medicalecords that you t.t. les. it s great. it will have all ofouourdoctors anand nsnsurers, have theyy bee helpful to y youitith ththis >> i scrutinized ery receipt i getroroy insnsananceompany to makeke se e ey are my charges. ii have even called -- i iadad a surgery done this yearar a and wa callining ee of the labs, they had my r rea information bb they also had ininfoatatn that s s no me. it was underer intnty theft whwhicisis sry it is all right there in o one place. >> you are very goodd with keeping the records andnd beses we f foryou. john, you haveve some veve good ne f for scott so h cann get back the life h h deserveses. >> yes. you know,, this --- i veve an insisi r relionship with the company called identity thefef 911. i sisit t tir advisory y bodd and one o oththe ings that they do is to taff thenus of the consumer andthth theyy ta on all of the restoratitionorork themseselv.. 20, 3030 hours a a week t

to take a really strong political straty after the afghan elections >> ros give me the issue that yothink should be used as a asuring stick one year from now in july or august of 20. >> i think we can loo at certain metrs inafghanistan to gauge progress. i think a good time to gauge progre in afghanistan will be about august of 2010. at that point we very much el and think the command group in afanistan very feels that th're going to have to demonstrate some sort of progress othe ground in afghanistan. because justifiably the policymakers in washington and the otherllied capita are going to start wondering w exactly we're i afghastan and questioning e strategy. so i think some metrics that are going to be approprie in afanistan is to look at, for example, to what degree a we precting the afghan civilian population? inhe past, we he lked at eny body count as a metricf success. maybe we've looked at significantctivities against the u.s. and lied troops. but wenow thatviolence is going to gop, at least in the near term. i think the estions that we need to k are to whategree are we going toe

wh do yothink you ought to bebe looking at? interest rates are creeping up bit, but not mumu. bubut at's interertiting is the shortaturities arere pretty tee and that makes sense. closely tied toohehe fed. and whetheher they shouldd shouldn't remove iquidity, there's very lilele doubt that they're going to not eark on the road of remomovi liquidity. 's mostly le to t t long maturities. thcurve arorodd 2258 tens minus twos is aseepas it's been in alst a month, june 10th. 35 billiontee-year n not.. short matatititie like three-yer notes seem toind go demandnd nsns and 3 30s may beeorore tetesting tomorrow and thursdsd.. mark haynynes back to you. >> rick san telely, thankouou very chch. mixed piure i i asia o ove nighght. china's shanghaiomposite lost 1.1%. inindisbobay added.9.9. indonesia g gaidd 2.4. ahead of t t country'slections tomorrowow so kind of a mixed bag, as w id. the european union with new nking forms. the lalawswill be desesnened foforcbabas to strengthen their capital buffers.s. e e drt report isxpected to b bacd by eu fanan ministers today. and d thraft repeptt